October 27 (SeeNews) - Romania sold on Thursday 600 million lei ($145 million/133 million euro) of Treasury bonds maturing on February 25, 2019, central bank data showed.
The average accepted yield on the bonds fell to 1.22% from 1.39% at the previous auction of bonds with the same maturity held in September, the data indicated.
Demand for the government bonds fell to 1.5 billion lei from 2.7 billion lei last month.
The issue will be reopened on Friday when the finance ministry hopes to raise an additional 90 million lei in a non-competitive tender.
Details about the issue follow:
Auction date |
October 27 |
September 22 |
Amount offered (mln lei) |
600.0 |
500.0 |
Amount sold (mln lei) |
600.0 |
500.0 |
Total bids placed (mln lei) |
1,528.3 |
2,767.8 |
Bid-to-cover ratio |
2.6 |
5.5 |
Yield (%) |
1.22 |
1.39 |
Romania's finance ministry plans to sell 3.5 billion lei in government securities in October, according to the debt issuance calendar for the month. The ministry also plans to sell an additional 405 million lei of government paper in non-competitive offers.
In September, the ministry sold 3.98 billion lei in government debt at auctions and an additional 450 million lei in non-competitive tenders, below target.
So far this year, the finance ministry has sold roughly 41.6 billion lei in local currency-denominated securities and 775 million euro in euro-denominated domestic debt and raised 3.25 billion euro on global markets.
Romania's debt issuance plan for 2016 envisages domestic debt sales of some 48-50 billion lei, including 14-15 billion lei in T-bills and 34-35 billion lei in T-bonds.
The finance ministry also raised the ceiling of its medium-term notes programme, launched in 2011, to 20 billion euro from 18 billion euro. Thus, Romania is to issue some 6.2 billion euro in Eurobonds in 2016 and 2017.
(1 euro=4.5037 lei)